SECTION IV. On Economy.

There is a false, as well as a true economy. I have seen an individual who, with a view to economy, was in the habit of splitting his wafers. Sometimes a thick wafer can be split into two, which will answer a very good purpose; but at others, both parts fall to pieces. Let the success be ever so complete, however, all who reflect for a moment on the value of time, must see it to be a losing process.

I knew a laboring man who would hire a horse, and spend the greater part of a day, in going six or eight miles and purchasing half a dozen bushels of grain, at sixpence less a bushel than he must have given near home. Thus to gain fifty cents, he subjected himself to an expense, in time and money, of one hundred and fifty. These are very common examples of defective economy; and of that 'withholding' which the Scripture says 'tends to poverty.'

Economy in time is economy of money—for it needs not Franklin to tell us that time is equivalent to money. Besides, I never knew a person who was economical of the one, who was not equally so of the other. Economy of time will, therefore, be an important branch of study.

But the study is rather difficult. For though every young man of common sense knows that an hour is sixty minutes, very few seem to know that sixty minutes make an hour. On this account many waste fragments of time,—of one, two, three or five minutes each—without hesitation, and apparently without regret;—never thinking that fifteen or twenty such fragments are equal to a full hour. 'Take care of the pence, the pounds will take care of themselves,' is not more true, than that hours will take care of themselves, if you will only secure the minutes.

In order to form economical habits, several important points must be secured. You must have for every purpose and thing a time, and place; and every thing must be done at the time, and all things put in their place.

1. Every thing must be done at the time. Whether you attempt little or much, let every hour have its employment, in business, study, social conversation, or diversion; and unless it be on extraordinary occasions, you must not suffer your plan to be broken. It is in this way that many men who perform an incredible amount of business, have abundant leisure. And it is for want of doing business systematically that many who effect but little, never find much leisure. They spend their lives in literally 'doing nothing.'

An eminent prime minister of Holland was asked how he could perform such a vast amount of business, as it was known he did, and yet have so much leisure. 'I do every thing at the time;' was the reply.

Some of you will say you have no room for any plan of your own; that your whole time is at the will of your master, or employer. But this is not so. There are few persons who are so entirely devoted to others as not to have minutes, if not hours, every day, which they can call their own. Now here it is that character is tried and proved. He alone who is wise in small matters, will be wise in large ones. Whether your unoccupied moments amount in a day to half an hour, or an hour, or two hours, have something to do in each of them. If it be social conversation, the moment your hour arrives, engage in it at once; if study, engage at once in that. The very fact that you have but a very few minutes at your command, will create an interest in your employment during that time.

Perhaps no persons read to better purpose than those who have but very little leisure. Some of the very best minds have been formed in this manner. To repeat their names would be to mention a host of self educated men, in this and in other countries. To show what can be done, I will mention one fact which fell under my own observation. A young man, about fifteen years of age, unaccustomed to study, and with a mind wholly undisciplined, read Rollin's Ancient History through in about three months, or a fourth of a year; and few persons were ever more closely confined to a laborious employment than he was during the whole time. Now to read four such works as Rollin in a year, is by no means a matter to be despised.

2. Every thing should have its place. Going into a shop, the other day, where a large number of persons were employed, I observed the following motto, in large letters, pasted on the side of the room; 'Put every thing in its proper place.' I found the owner of the shop to be a man of order and economy.

An old gentleman of my acquaintance, who always had a place for every thing, made it a rule, if any thing was out of its place, and none of his children could find it, to blame the whole of them. This was an unreasonable measure, but produced its intended effect. His whole family follow his example; they have a place for every thing, and they put every thing in its place.

Unless both the foregoing rules are observed, true economy does not and cannot exist. But without economy, life is of little comparative value to ourselves or others. This trait of character is generally claimed, but more rarely possessed.

A teacher, who has been pleased to say much in behalf of this work, and to do much to extend its circulation, in a late letter, very modestly, but properly makes the following inquiry; 'Has not Dr. Franklin's precept, time is money, made many misers? Is it not used without sufficient qualification?'

There is no good thing, nor any good advice, but what may be abused, if used or taken without qualification. There may be misers in regard to time, as well as money; and no one can become miserly in the one respect without soon becoming so in the other. He who cannot or rather will not give any portion of his time to promote the happiness of those around him, in the various ways of doing good, which perpetually offer, lest it should take from his means of earning property, is as much to be pitied as he who hoards all his dollars and cents. Still it is true that youth should husband well their time, and avoid wasting either that or their money.